Aigen Investment Management LP Sells 9,596 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Aigen Investment Management LP has reduced its stock position in Intercontinental Exchange Inc. by 35.3%, selling 9,596 shares and now holding 17,559 shares worth $3,029,000.
• Intercontinental Exchange recently declared a $0.48 quarterly dividend, equating to a 1.0% dividend yield, with a payout ratio of 36.85%.
• Analysts have increased their price targets for Intercontinental Exchange, with Barclays raising theirs to $212.00 and UBS Group to $210.00, while maintaining a majority 'buy' rating on the stock.

Aigen Investment Management LP cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 35.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,559 shares of the financial services provider's stock after selling 9,596 shares during the period. Aigen Investment Management LP's holdings in Intercontinental Exchange were worth $3,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. REAP Financial Group LLC raised its holdings in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Tsfg LLC increased its holdings in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after buying an additional 103 shares in the last quarter. Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at $29,000. Rakuten Securities Inc. increased its holdings in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after buying an additional 143 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange in the first quarter valued at $30,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

NYSE:ICE traded down $1.53 during mid-day trading on Wednesday, hitting $181.21. The company's stock had a trading volume of 3,723,282 shares, compared to its average volume of 2,996,806. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $103.73 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 2.21 and a beta of 1.11. The stock has a fifty day moving average of $181.85 and a 200-day moving average of $173.03.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company's revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.52 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.1%. Intercontinental Exchange's payout ratio is 36.85%.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. Morgan Stanley upped their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Barclays boosted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. UBS Group upped their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $194.92.

Insider Activity at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the sale, the chief executive officer owned 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel directly owned 48,480 shares of the company's stock, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 226,913 shares of company stock valued at $40,671,107. Insiders own 1.00% of the company's stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.